Company Registration No. 08533285 (England and Wales)
OAF Associates Limited
Unaudited accounts
for the year ended 31 May 2023
OAF Associates Limited
Unaudited accounts
Contents
OAF Associates Limited
Company Information
for the year ended 31 May 2023
Directors
Ayokunnu O J Olaogun
Olufolake A R Olaogun
Secretary
Ayokunnu Olaogun
Company Number
08533285 (England and Wales)
Registered Office
20 BILL THOMAS WAY
ROWLEY REGIS
BIRMINGHAM
WEST MIDLANDS
B65 9AB
UNITED KINGDOM
Accountants
AMB Accountants & Consultancy Services Ltd
3 St Clements Road
Greenhithe
Kent
DA9 9FG
OAF Associates Limited
Statement of financial position
as at 31 May 2023
Tangible assets
38,043
41,753
Cash at bank and in hand
9,113
16,274
Creditors: amounts falling due within one year
(34,050)
(20,207)
Net current liabilities
(24,937)
(3,933)
Total assets less current liabilities
18,156
42,870
Creditors: amounts falling due after more than one year
(56,111)
(65,735)
Net liabilities
(37,955)
(22,865)
Called up share capital
100
100
Profit and loss account
(38,055)
(22,965)
Shareholders' funds
(37,955)
(22,865)
For the year ending 31 May 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 21 February 2024 and were signed on its behalf by
Ayokunnu O J Olaogun
Director
Company Registration No. 08533285
OAF Associates Limited
Notes to the Accounts
for the year ended 31 May 2023
OAF Associates Limited is a private company, limited by shares, registered in England and Wales, registration number 08533285. The registered office is 20 BILL THOMAS WAY, ROWLEY REGIS, BIRMINGHAM, WEST MIDLANDS, B65 9AB, UNITED KINGDOM.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 June 2022
59,797
8,969
68,766
At 31 May 2023
59,797
8,969
68,766
At 1 June 2022
19,193
7,820
27,013
Charge for the year
2,850
860
3,710
At 31 May 2023
22,043
8,680
30,723
At 31 May 2023
37,754
289
38,043
At 31 May 2022
40,604
1,149
41,753
OAF Associates Limited
Notes to the Accounts
for the year ended 31 May 2023
5
Investments
Other investments
Valuation at 1 June 2022
5,050
Valuation at 31 May 2023
5,050
6
Creditors: amounts falling due within one year
2023
2022
Loans from directors
34,050
20,207
7
Creditors: amounts falling due after more than one year
2023
2022
Obligations under finance leases and hire purchase contracts
36,565
36,520
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
9
Average number of employees
During the year the average number of employees was 2 (2022: 2).